If an individual has a bad credit history, it can be hard to get a credit card but it is not impossible. There are deals available although they may come with a higher than usual annual percentage rate.
How Do Lenders Assess a Credit?
Lenders will look at a person's credit history and their score in order to determine whether or not the individual is a risk.
Few lenders will extend credit to a borrower who has declared bankruptcy or who has other serious problems such as county court judgments against him or her or defaults on a loan. Missing payments on a personal loan, credit card or mortgage arrears are considered serious risks by a lender. Habitual late payment indicates to the lender that the borrower is struggling to keep up.
